Ad Valorem Tariff

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Ad Valorem Tariff

A tax on an import calculated as a percentage of the value of the import. This contrasts with tariffs on the weight, size, or quantity of the import. Like all tariffs, ad valorem tariffs are controversial, with opponents arguing that they are economically inefficient. See also: Ad Valorem Tax.
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Ad valorem duties protected each island's domestic market from the other.